So....I am often asked why I have involved myself in so many different business ventures over the years. My answer is always the same...because I can. Maybe I have ADD or am in a constant "manic" mode of BiPolar...two very common afflictions of the self-proclaimed "serial entrepreneur," btw. Or perhaps it is simply becase I have the "attention span of a gnat," which I am frequently kidded about. Whatever the reason, it is who and what I am.
I love new ideas and I'm pretty darn good at taking those ideas from concept to market. Since in the beginning of my career, only I actually believed in my own ideas, I had to get good at financing them, always creatively. There wasn't a friendly "Rich Uncle" or the so-called "friendly" neighborhood bank to help out so...I was left to my own designs to figure own how to take my ideas from "concept to market."
Don't get me wrong, some of my ideas were unmitigated disasters. Like the "genius" idea I had of opening up a preppie store that had my taste in clothes at my Winter home of Sanibel Island, Florida, a well-heeled and oh so casual resort locale in the Gulf of Mexico. I had attended the University of Virginia years before and was still ordering my clothes shipped to me from my favorite store in Charlottesville. I reasoned that I could not only get my own clothes at wholesale and at my fingertips by opening up my own high-end retail store with all my favorite clothes but I could also make a profit by selling to all of those customers that shared my taste in preppie clothes.
Well, I was dead wrong and paid a fat $150,000 "tuition" by not doing my homework to even see if anyone besides me, would buy the clothes I planned to feature in my beautiful (and expensive) new storefront. "MacKenzies," my one erstwhile venture in the retail clothing store, bit the dust after only a year in business but I learned a great lesson evermore.Just because you, personally, like a product, it doesn't mean that other paying customers will too. Do your research first...or pay the "tuition" like I did.
The point here is, you have to try out your ideas. Don't just sit on them. You will make mistakes, just like I did...dozens of times over the years. However, when I did make a bad call and learned from it, I never made that particular mistake again.
These days, I am playing to my real "genius" ...recognizing opportunities and connecting the dots to make things happen. Only this time, they aren't my own businesses, not for now. Other entrepreneurs in need of capital (debt or equity) and strategic alliances come to me...almost each and every day. I don't even have my new web site up yet but will next week. For now, if you're interested, you can check out the trial site at http://peter-burnsiii.squarespace.com/?logout=true
This, my friends, is my "New Beginning" for today...